Loan Program FAQs: Do I Qualify?

As of June 5, 2023

  • If you filed for bankruptcy, either business and or personal at any time in the past, you do not qualify for our programs which offer loans up to $100,000.
  • However, if the bankruptcy was more than five (5) years ago, you may be considered for one of our conventional loan programs.
  • If the tax lien was filed within the last three (3) years, you do not qualify for our Microloan Program which offers loans up to $100,000.
  • However, you may be considered for a conventional BCF Loan if the lien has been dispositioned – paid or with a current payment plan in place.
  • For loans up to $15,000, a minimum credit score of 620 for all guarantors will be required.
  • For all loans over $15,000, a minimum credit score of 650 will be required. Scores lower than 650 will be considered on a case-by-case basis.
  • While it is not mandatory that your business be MBE certified, we highly recommend and encourage that you obtain certification from either the National Minority Supplier Development Council (NMSDC) or a state agency, or be active in the federal government’s SBA 8(a) program.